Thank you for your response!
A few other questions:
You said "Sale Price is the amount you received". This amount is also listed in Box 19A, so I assume I use this number? (It is also the amount of the final check I received on 12/2024).
I'm still not sure how to fill out the Partnership Basis:
On Part II, section L, the following is shown:
- Beginning capital account
- current year net loss
- withdrawals and distributions
- Ending capital account
Do I list the Beginning capital account amount as the Partnership Basis?
How do I figure out the Ordinary Gain or 1250 Gain? My K-1 does not mention anything about 1250 gain, so can I assume I don't have this?
The K-1 Footnotes lists an amount for Interest Income, and long term capital loss - which have a total net income loss. Do I use this as Ordinary Gain?
And to confirm - you said I should put the same amounts (partnership basis, ordinary gain, 1250 gain) in AMT Gain or Loss?
Thank you!
